otherwise be paid to the real estate broker (usually 5%).
Buyers looking to purchase a home sold by owner without a broker may believe they can save money on the home by not having a broker involved, and so they look solely at FSBO houses. They might expect money to be saved and make an offer accordingly. Unless the buyer and seller agree to split the savings, they can’t both save the commission — and that’s if the listing price was not already lowered by near the commission amount to make it more market-attractive. Here’s a short list of the advantages that using a real estate broker can bring to your buying experience: • Education and experience • A buffer between you and the seller • Neighbourhood knowledge
• Price guidance (market research) • Market conditions information • Negotiation skills and confidentiality • The ability to handle legal paperwork • The ability to handle closing delays • Relationships for Future Business
It’s extremely important to know the “ins and outs” of real estate brokers before you bring one along with you to help in your search for a home, just so that you might know what to expect, and what will be expected of you.
WHO A REAL ESTATE BROKER IS? KER IS?
Simply put, a real estate broker is someone licensed to list and sell real estate, including homes, multi-family properties, commercial, and industrial buildings. He/She is a member of the Canadian Real Estate Association and Quebec Professional Association of Real Estate Brokers.
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